Name:   Crimson4Lif - Subject:   Lake house value Date:   4/18/2018 5:34:20 PM

Need an opinion....

Been at the lake since '87 as a weekender.  Grandparents did the lease thing from Al Power or Russell and eventually bought the little cabin....then later on the lot buy option was executed.  So somewhere in the early 90s they bought the place outright.  As the lake as grown, there are numerous locations around the lake with million dollar homes.  However on the south side of the lake near Anchor Bay (Red Hill area) there are not really any lots to build on without doing a tear down first.  Our lot is deeded at over 1.2 acres with atleast 250ft water front.  Completely wooded lot except for where the cabin is.  So all that to ask...how much do you sell the lot for?  The cabin is a for sure tear down but there is nothing on that side of the lake to compare too.  A few other houses have sold over the years for anywhere from $400 to $770.  Differences are the lots of these houses are no where near as nice as mine (no trees and smaller) and the houses though not a tear down are not "mansions". So my dilemma is how do you price it when all you have is land and location to market?  A couple of stipulations in buying these cabins was you can't divide the lot and you can't put more than one dwelling on the lot.  It is a absolutely beautiful spot with a big slu and a view to the kowliga bay.  Just wanted to get some opinions from some that may have better market value opinions.  

My honest opinion is the lot is worth atleast $600k but thinking in the $700k - $800k range is not out of the question.  Reason being...you cant get much closer to Tallassee (15 min to the walmart) should you need to get to town,  perfectly located in the middle of the lake (20 min to real island area, 20 min to Chucks).  NOT A SINGLE LOT FOR SALE ANYWHERE AROUND US....supply and demand has to come into play somewhere.  What cha think?